Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
National
Anusuya Lahiri

Intuit To Settle TurboTax Claims

INTU Intuit TurboTax United States Letitia James Okan Caliskan Internal Revenue Service Intuit Inc Pixabay New York
  • Intuit Inc (NASDAQ:INTU) agreed to pay $141 million to settle claims by all 50 U.S. states and Washington, D.C.
  • The states alleged that beginning in 2016, Intuit steered customers eligible for IRS Free File into using TurboTax Free Edition, only to later tell them they needed to pay $59.99 or more to file because their returns were not simple.
  • Intuit steered at least 4.4 million customers, many with low incomes, into buying online TurboTax products that the company deceptively advertised as "free," Reuters reports.
  • The customers were eligible for free electronic filing through the Internal Revenue Service (IRS).
  • The settlement also calls for the largest U.S. online tax preparer to suspend ads containing slogans like "TurboTax Free is free. Free free free free."
  • "For years, Intuit misled the most vulnerable among us to make a profit," New York Attorney General Letitia James said. "Today, every state in the nation is holding Intuit accountable."
  • Intuit admitted no wrongdoing and expected a "minimal" impact on its business.
  • Price Action: INTU shares closed higher by 3.96% at $447.92 on Wednesday.
  • Image by Okan Caliskan from Pixabay
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
21 'one-in-a-million' extreme dead stars found hiding around sun-like stars
Astronomers have detected 21 rare systems with widely separated neutron stars and sun-like stars. These binaries are "one in a million" and challenge dead star binary formation models.
Space
Space
The true culprit of cereals
"Little has changed since the days of "Unfrosted," the Pop-Tarts movie"
Salon
Salon
Char your summer squash like a chef
Chef Tyler Fenton of BATA talks charring, cooking local and the bounty found in the 400 miles surrounding Tucson
Salon
Salon
What is the chemistry behind decaf?
"Decaffeination has a rich history, and now almost all coffee producers use one of three common methods"
Salon
Salon
Blake Lively Expertly Shuts Down Ryan Reynolds Divorce Rumors
A commenter brought these rumors to her attention.
Marie Claire
Marie Claire
Worried about the health effects of the sugar in your breakfast cereal? Little has changed since the days of ‘Unfrosted,’ the Pop-Tarts movie
While Jerry Seinfeld, Melissa McCarthy, Amy Schumer and Hugh Grant got top billing, sweet breakfast foods from the 1960s are arguably the real stars of the recent movie “Unfrosted,” a comedy loosely based on the invention of Pop-Tarts.
The Conversation
The Conversation
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.
Download on the AppStore Get it on Google Play